M.D.C. Holdings, Inc.

Description: MDC’s markets are among the strongest in the country (CO, AZ, CA, NV 71% of orders).

Source: Goldman Sachs

NeuStar, Inc.

Ticker: NSR

Target Price: $47

Target Price Period: 12 months

Sector: IT Services

Description: Key drivers include its highly recurring revenue, US concentration, positive exposure to wireless and IP-based services, high operating leverage, and significant EPS accretion from more aggressive capital allocation.

Source: Goldman Sachs

PerkinElmer, Inc.

Ticker: PKI

Target Price: $37

Target Price Period: 12 months

Sector: Life Science Tools

Description: The recent capital deployment ($1 bn over 10 transactions in the last two years) will provide
a tailwind to growth.

Source: Goldman Sachs

SunCoke Energy, Inc.

Getty

Ticker: SXC

Target Price: $21

Target Price Period: 6 months

Sector: E&P/Coal

Description: SXC’s coke business (86% of 2012E EBITDA) derives all its profits from take-or-pay contracts with US Steel producers and has limited exposure to uncertainties around met coal prices, China growth, weather, and natural gas prices.

Source: Goldman Sachs

Tenneco Inc.

Ticker: TEN

Target Price: $45

Target Price Period: 6 months

Sector: Automobiles

Description: Goldman Sachs expects TEN to outgrow overall commercial and light vehicle volumes by a factor of 2X through 2014, driven by its strong positioning in the global pollution controls market.

Source: Goldman Sachs

Validus Holdings, Ltd.

Description: VR is one of the most insulated companies from persistently low interest rates given peer-
low portfolio duration (under 2 years) and yield (under 2%), and investment income represents only 20% of pre-tax earnings.